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Deductions & credits
That's a very helpful answer, thank you.
I think my RV meets the definition of a dwelling unit as it has a bed, stove, sink, shower and I use it when it's not out for rent. So I think it should probably be on schedule E, not C.
I tried putting it into TurboTax as another property. I filled out plenty of mostly nonsensical properties like property address, land value, mortgage points, etc with "0"s.
However, the trouble I get to is that at the end it gives me 27.5 year depreciation.
How can I specify that it's an RV to TurboTax somehow to get the 5 year depreciation?
March 16, 2021
3:55 PM